260 apartments proposed at 1931 Wilshire Blvd. in Santa Monica

This post was written by Steven Sharp and published on Oct 8, 2024 on la.urbanize.city

Cypress Equity Investments plans more mixed-use in Santa Monica

Cypress Equity Investments continues to pitch plans for new housing on Santa Monica’s commercial thoroughfares.

In September, the Los Angeles-based developer submitted plans to redevelop parcels at 1907-1931 Wilshire Boulevard with a new eight-story building featuring 260 studio, one-, and two-bedroom apartments above 11,000 square feet of ground-floor commercial space and a three-level, 320-car subterranean parking garage.

The project application calls for density bonus incentives to permit a larger building than allowed by zoning rules. In exchange, 26 of the new apartments would be set aside for rent at the very low-income level.

AC Martin is designing 1931 Wilshire, with LRM serving as landscape architects. Renderings portray a contemporary podium-type building with multiple courtyards and rooftop amenities.

The proposed development is one of a number from CEI planned along the Wilshire corridor, joining a 140-unit complex proposed across the street at 1902 Wilshire and roughly a half-dozen others within Santa Monica city limits. The company’s other upcoming developments include apartment buildings that would rise from sites along Lincoln, Santa Monica, and Pico Boulevards.

The site also abuts a property at 1901 Wilshire where a new medical office building is planned.